Atlassian Corporation

Good afternoon, and thank you for joining Atlassian's earnings conference call for this first quarter of fiscal 2023. As a reminder, this conference call is being recorded and will be available for replay from the investor relations section of Atlassian's website following this call. I will now hand the call over to Martin Lamb, Atlassian's head of investor relations.

Welcome to Atlassian's first quarter of fiscal year 2023 earnings call. Thank you for joining us today. Joining me on the call today, we have Atlassian's co-founders and co-CEOs, Scott Farquhar and Mike Cannon-Brooks, our Chief Revenue Officer, Cameron Deash, and Chief Financial Officer, Joe Binns. Earlier today, we published a shareholder letter and press release with our financial results and commentary for our first quarter of fiscal year 2023. The shareholder letter is available on Atlassian's work-life blog and the investor relations section of our website, where you will also find other earnings-related materials, including the earnings press release, and supplemental investor data sheet. As always, our shareholder letter contains management, insight, and commentary for the quarter. So during the call today, we'll have brief opening remarks and then focus our time on Q&A. This call will include forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management's beliefs and assumptions only as of the date such statements are made, and we undertake no obligation to update or revise such statements should they change or cease to be current. Further information on these and other factors that could affect our financial results is included in filings we make with the Securities and Exchange Commission from time to time, including the section titled Risk Factors in our most recently filed annual and quarterly reports. During today's call, we will also discuss non-GAAP financial measures. These non-GAAP financial measures are in addition to and are not a substitute for or superior to measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial measures is available in our shareholder letter, earnings release, and investor data sheet on the IR website. Please keep in mind that we'd like to allow as many of you to participate in Q&A as possible. To facilitate that, we'll take one question at a time. Please rejoin the queue if you have another question or a follow-up, and we'll do our best to come back to you later in the session. With that, I'll turn the call over to Scott for opening remarks.

Thank you for joining us today. We're proud of our execution in Q1 against our long-term initiatives. We announced a new subscription offering in Atlassian together, launched Atlas into general availability, and held WorkLife, our first large-scale customer event focused on a single market. As you've already read in our shareholder letter, Atlassian is not immune to the broader macroeconomic environment, but we remain steadfast in our conviction that we have the right leaders, products, and strategies in place to capitalize on the incredible long-term opportunities in front of us. Turbulent markets provide an opportunity to shake up the leaderboards, and we're poised to play offense. We'll focus our investments to take share and strengthen our market position in this environment. We'll, of course, balance our continued investments with the overall growth of our business and be responsive to the macroeconomic conditions. We continue to have line aside to $10 billion in annual revenue and believe we will come out of this environment in a much stronger market position. I'm incredibly thrilled to pass the CFO baton to Joe Binns, who I want to welcome to his inaugural Atlassian earnings call. He's only been here since early September, but has quickly gotten up to speed and will do far better than me in my short stint as interim CFO. With that, I'll pass the call to the operator for Q&A.